Article ID: | iaor1995963 |
Country: | Switzerland |
Volume: | 23 |
Issue: | 2 |
Start Page Number: | 119 |
End Page Number: | 123 |
Publication Date: | Dec 1994 |
Journal: | Engineering Optimization |
Authors: | Chung Kun-Jen |
Keywords: | quality & reliability, stochastic processes |
This paper examines optimal repair-cost limits for a Weibull-distributed time to failure and an exponential distributed repair cost. Bounds are derived for the optimal repair cost limit that minimizes the average cost per unit time for repairs and replacement. With those bounds, a simple algorithm is developed to obtain the optimal repair-cost limit. Numerical examples are given to illustrate the algorithm.